Question

A sum of Rs 700 is to be used to give seven cash prizes to students of a school for their overall academic performance. If each prize is Rs 20 less than its preceding prize, find the value of each of the prizes.

Answer 1

Let the cost of 1^st prize be P.

Cost of 2^nd prize = P − 20

And cost of 3^rd prize = P − 40

It can be observed that the cost of these prizes are in an A.P. having common difference as −20 and first term as P.

a = P

d = −20

Given that, S₇ = 700

a + 3(−20) = 100

a − 60 = 100

a = 160

Therefore, the value of each of the prizes was Rs 160, Rs 140, Rs 120, Rs 100, Rs 80, Rs 60, and Rs 40.